Monthly Archives: May 2014

GTA Market Update – May 15, 2014

Toronto home prices 2014

Mid-May Stats – The peak spring weeks

As our chart shows, there’s a typical pattern in Toronto’s monthly real estate sales, with price peaks each spring and fall. The last three weeks have been uniformly busy, with the number of sales running about 10% to 12% above the same weeks in 2013 Average prices in the Greater Toronto Area continue to be around 10% above last year’s.

Look out for the longer term

Real estate markets reflect major demographic facts. Once established, trends in real estate tend to keep on going for a long time. It’s true that a busy week in May will see twice as many transactions as a cold week in January. But factors such as employment, immigration, and generational shifts are the key influencers on real estate.

Not just Toronto

It’s worth noting that the Toronto Real Estate Board (TREB) stats cover a large swath of the GTA. Only about 40% of the real estate transactions measured take place within the City of Toronto (or 416 area code). It’s important to zero in on the data that have a direct bearing our your local interests.

If you’re thinking of buying or selling this year, this is the right time to contact us! You can email us, or call James and Joanne at 416-483-8000.

GTA Market Update – May 7, 2014

Toronto Home Prices 2014

Toronto home sales up in April

The good news is that recent figures show a consistent uptick in the volume of home sales. Of course, the number of homes sold increased less than 2% in April, while prices increased over 10%. But still, the trend towards greater availability of homes for sale is starting to take hold.

The way Toronto real estate works, a greater supply usually helps both buyers and sellers. Having more selection encourages buyers to act, and tends to increase both the number of sales and the sale prices.

Buying a home is a smart investment

Fundamental factors continue to favour the long-term value of Toronto homes. Employment is steady, and Toronto is firmly established as a global destination.

A shifting landscape of values requires a smart approach to buying. Part of the process is having that conversation to identify needs and wants. We can help!

If you’re thinking of buying or selling this year, this is the right time to contact us! You can email us, or call James and Joanne at 416-483-8000.